The Russian gas company Gazprom further cuts supplies through the Baltic Sea pipeline Nord Stream 1. From July 27 (Wednesday), at 6:00 a.m. CEST, 20 percent or 33 million cubic meters of gas would still flow daily through the most important supply pipeline to Germany, the company announced on Monday. The reason was the repair of another turbine, it said.

Kremlin chief Vladimir Putin threatened last week that there could be a further cut in gas supplies via Nord Stream 1 around July 26. He had referred to turbines used by the Russian energy company.

According to this, a throttling is possible if a turbine repaired in Canada is not available again in time. Another turbine should therefore be sent out for repairs around July 26th.

According to information from the Federal Network Agency, there is no technical reason for the renewed throttling of the gas supply volume through the Nord Stream 1 pipeline. “We have taken note of the announcement,” said a spokeswoman for the authority on Monday evening.

The Federal Network Agency is closely monitoring the situation in close cooperation with the Ministry of Economic Affairs and the gas crisis team. “According to our information, there is no technical reason for a reduction in deliveries,” she said.

According to the information from the Federal Ministry of Economics, there is no technical reason for a reduction in deliveries, as a spokeswoman announced on Monday evening. The ministry is monitoring the situation very closely in close cooperation with the Federal Network Agency and the gas crisis team.

The announcement of lower supplies by Russia has caused natural gas prices to rise significantly. On Monday, the futures contract TTF, which is regarded as trend-setting, rose to 175 euros per megawatt hour on the energy exchange in the Netherlands. That is an increase of 7.7 percent compared to Friday.

The problem of the gas supply in Germany also set back the Dax somewhat in late trading on Monday. The leading German index closed 0.33 percent lower at 13,210.32 points.

The Ifo business climate published in the morning was weak, but did not stand in the way of the Dax on its way to interim price gains. The MDax of medium-sized companies ended the first trading day of the week down 0.54 percent to 26,632.66 points.

The energy ministers of the EU states will advise on Tuesday (09.30 a.m.) about a possible stop in the supply of gas from Russia. The focus of the special meeting in Brussels should be the preparation for such an emergency.

Last week, the EU Commission presented an emergency plan that should make it possible to set mandatory savings targets in the event of a gas emergency. Initially, however, the EU countries should voluntarily consume significantly less gas between August 2022 and March 2023.

The European Union and especially Germany are heavily dependent on Russian gas. The markets fear a complete end to gas supplies, which would weigh heavily on the European economy.

Gas deliveries via the currently most important connection to Germany for Russian natural gas were only resumed on Thursday after a ten-day routine maintenance. As early as June, Gazprom had reduced deliveries via the pipeline to 40 percent of maximum capacity and referred to the turbine being sent to Canada for repairs. The federal government considers this to be a pretext. (dpa)